Turkey’s crypto law is ready for parliament, President Erdoğan confirms

Turkey’s crypto law is ready for parliament, President Erdoğan confirms

Turkey’s President Recep TAYYIP Erdogan has confirmed that a draft crypto law was completed and will be shared with Parliament soon for its mainstream implementation.

Erdogan spoke at an Istanbul press conference to share plans to implement a new economic system in order to combat the declining value of the Turkish Lira. According to local media NTV Erdogan stated that the cryptocurrency bill was ready and added:

“We will immediately send it to Parliament and take action on this matter.”

Recognizing the recent inflationary episode in Turkey, Erdogan stated that the currency phenomenon is not mathematical but a matter process. This implies that there could be a potential for a rise in the value of the lira.

“With this understanding, it is our intention to channel it towards a dry spot. The exchange rate will have its own market price.”

The president sees Turkey becoming one of the top 10 economies worldwide with the new crypto law. He spoke out about rising prices in the region and shared his plans to follow those who alter the labels of price list organizers multiple times per day. He concluded, “We want them lower the dollar’s rises now.”

Related: Bitcoin hits a new all-time high as Turkey’s fiat currency lira falls into freefall

Bitcoin holders in Turkey escaped an accelerating currency crash on Nov. 23 when the Turkish lira fell 15% against the U.S. Dollar in one day.

BTC/TRY 1-day Candle Chart (Binance). Source: TradingView

Cointelegraph reported that Bitcoin (BTC), a fiat currency, reached a new record against the Turkish lire. Binance recorded that the trading pair BTC/TRY reached 723,329 Turkish lire.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Amy Jimenez

Amy Jimenez– Services My name is Amy Jimenez, and I am the main writer behind the" allthetopnews.com" for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami